Business services are a range of activities that help companies but don’t result in a physical product. Companies of all sizes rely on these specialized services to run their businesses. They include those related to banking, transportation, warehousing, insurance and communication services.
Service industries are the fastest growing sectors of the economy. They provide high-quality products and services that improve productivity and efficiency and create new jobs. Business services are an essential part of the economy and support the development and competitiveness of enterprises of all sizes. The key to a successful service business is excellent customer service and continuous improvement.
The four dimensions of a service business are the value proposition, experience design, service delivery and the service system. Each of these is critical to the success of a service business. The value proposition defines the characteristics of the service that customers will value and compare with other services in the marketplace. Experience design focuses on the processes that deliver the experience to the customers. Service delivery is the execution of the service by employees and other service providers. Service systems are the systems, structures and infrastructure that support the service delivery process.
Examples of business services are a professional cleaning company that cleans the offices, a construction crew that renovates the office or a landscaping company that designs and maintains the grounds. Another important service is legal services that help companies with regulatory requirements like taxation, licensing and insurance.